Thursday, August 13, 2015
Thursday, July 30, 2015
$649900 - 2 Bed, 2 Bath Luxury Condo in tiff Bell Lightbox Tower
Welcome to Festival Towers home of TIFF Bell Light Box, Film Reference Library and a beautifully appointed, sun kissed, 2 bedroom, 2 bathroom apartment in the heart of Toronto.
Surrounded by the entertainment, shopping and financial district there’ll be plenty of reasons to head out on the town.
The 898 interior square feet and 401 square feet of wrap around balcony overlooking the city will help you stay home so you don’t overdue it. No detail overlooked, luxuries include built-in Miele appliances, hardwood floors throughout, floor to ceiling windows and luxury bathrooms. Tens of thousands spent on custom, aftermarket upgrades including a custom kitchen centre island, stone fireplace with built in T.V. and concealed entertainment centre. Life can be hard make coming home easy. Move in and have the city at your finger tips. Parking and locker included.
Building amenities include 24 Hr concierge and security, indoor pool, whirlpool, sauna, fitness centre, yoga studio, rooftop terrace, 55 seat cinema used by TIFF, media & sport lounge, business centre, guest suites and parking.
5 Star Hotel Services Including:
- Housekeeping
- Laundry service
- Room Service
- Dog Walking
- Special Spa and Massage Treatments
- Personal Training
Jimmy Vlachos
Royal LePage Signature
416-953-0781
Monday, June 1, 2015
150 REDPATH CONDOS - YOUNG & EGLITON - EXCLUSIVE ACCESS/PRE CONSTRUCTION
When it comes to investing I prefer privately owned buildings with multiple doors
(3-plex/6-plex) and revenue streams over a single, revenue generating unit. Over the years I've been pretty vocal about freehold, income property investment.
Some of you may find my recent blogger and Facebook posts praising Freed Developments new, and now sold out town home project at Young and Eglinton a little strange based on my historic position. Not to worry I didn't sell out I've simply been crunching the numbers.
At the moment it's almost impossible to find a trip-plex in a good location thats not well over a million dollars. Most investors already own property and thus require 20% down. Financial institutions have tightened their lending policies for multi residential dwellings requiring larger deposits even for first time buyers. Don't get me wrong if you have the money multi residential is still my favourite game in town but what if you don’t have a few hundred thousand dollars sitting in a shoe box?
If you read the papers you'll no doubt have seen articles on recent record breaking price achieved by a Picasso painting at auction earlier this month.
Classic cars, vintage wine and fine watch auctions have been doing the same over the last couple years. Why is everything so bloody expensive you ask?
Because money is so damn cheap and international central banks are driving the value down faster than you can waive your bidding card.
Look at the position your friends are in, the ones that decided to wait for prices to come down before they jumped into the market. Houses as with many other assets are now out of reach and 10's if not 100's of thousands of dollars of appreciation are not at their disposal.
So where does one invest when coming up with a 200k deposit is not possible? You look for pre-construction in Fantastic locations with a healthy mix of commercial retail and office space, access to public transit, and brilliant, reputable builders.
This is not the "flip quick and get rich" game that was played for a brief period in the early 2000's. For a single condo unit to carry itself without the need of a monthly cash injection you're looking at a 30% down payment. Some may not mind pitching in $200/month to make up a short fall in rent but to avoid that you're looking at 30% down. The good news is you don't need all that money upfront. We're looking at holding properties for a minimum of 5 years to maximize re-sale potential and income generation.
The strategy is to buy pre-construction, put 30% down before closing, rent and hold for no less than 5 years ideally.
Why is location so important? We want AAA locations because we want AAA rent rates and stable, established neighbourhoods in order to protect our investment. Add a new rail transit line with a area that’s due to grow in density far exceeding current and slated development housing options and Yonge & Egliton has all the right stuff.
In September 2008, Metrolinx launched a regional transportation plan – The Big Move – a 25-year, $50 billion plan for coordinated, integrated transportation and transit in the Greater Toronto and Hamilton Area (GTHA). One of the first wave of projects currently underway is the Eglinton Crosstown, which represents an investment of $5.3 billion (2010$) toward better transit in Toronto.
The Crosstown is a light rail transit (LRT) line that will run across Eglinton Avenue between Mount Dennis (Weston Road) and Kennedy Station. This 19-kilometre corridor will include a 10-kilometre underground portion, between Keele Street and Laird Drive.
Lets look at Yonge & Egliton more closely
- Average property values exceed $1,600,000.00
- Land values of $385+/Square foot.
- New build construction costs $250+/Square Foot.
- Condo rental rates in the area are $1500-1700/month for one bedroom units.
- Development space is limited due to existing commercial and residential densities.
- New Transit System on-line mid 2020
Of all the developments I'm aware of 150 Redpath Ave is the one I choose to endorse based on the criteria laid out above. I will have VIP access to units over the entire summer after which the development will be release to the public and prices will increase. Time is of the essence although we will have breathing room. The sales centre is due to open first week of June.
If you'd like to discuss this project or other investment options while the value of our dollar can still buy more than cotton candy call me. I’m exited about 150 Redpath Ave and believe it’s a great option for investors and end users so if you know of any first time buyers looking to make the right move coming out of the gates please let me know.
I've attached a link to the broker portal allowing clients to view the architectural renderings, floor plans, cost schedule etc..Contact me directly for username and password.
Talk soon,
Jimmy Vlachos
Royal LePage Signature
416-953-0781
LEASED - FULL ASKING: Prime Riverdal Location $1150/Month Large Bachelor.
ardwood floors throughout, granite kitchen counter, carrera marble back splash, built-in stainless steel fridge, stove and dishwasher. Modern 4 piece bath, large closet and pot lights. Intercom connects to cell phone.
Tuesday, May 26, 2015
SOLD OUT IN 1 HOUR - A rare offering of well appointed Town Homes steps from Yonge and Eglinton
Starting in the $500's
Private Platinum Broker Sales Event on Saturday May 23, 2015
Offers and unit reservation on or by Wednesday May 20, 2015
Contact me for a private link to floor plans and renderings.
Jimmy Vlachos
Royal LePage Signature
416-953-0781
jimmy@incomepropertiesto.com
Saturday, May 16, 2015
EXCLUSIVE ACCESS - Yonge and Eglinton Town Homes.
You don't want to miss this development opportunity.
Worksheets are due at my brokerage Wednesday May 20th at 6pm.
Wednesday, May 13, 2015
PURCHASED UNDER ASKING!! A story of how a home was bought for less than asking in Toronto's crazy market.
There are approximately 40'000 realtors licensed through TREB. Roughly 80'000 properties sold last year in Toronto. Thats 2 deals per agent.
Does your agent drive a cab, work in the service industry or public sector part time? I'm asking because each question is worth money. You should be asking.
A realtor needs a variety of different skills to be effective, to do their job properly. A realtor's true job is to act as your spear and shield on the battle field of negotiations. You could teach a monkey to send you listings or point to the pantry in the kitchen while visiting open houses. Monkeys are cute and can be bought with bananas but you don't want one handling the biggest financial transaction of our life.
A realtor essentially fights to get as much money as possible for your home while trying to reduce the purchase price of the property you're buying. In this hot, crazy, multiple offer riddled market I'm mostly determining value based on intimate knowledge of comparable sold listings while managing the expectations and emotions of my clients so they don't do something they regret like miss the perfect house over a few thousand dollars or agregiously overpay.
The home above was listed for multiple offers but on the offer date my clients and I where the only game in town. I presented our below asking offer and was quickly told that the sellers where looking for over asking. The house was worth it. Recently sold, comparable homes suggested a price point at least 15K over asking.
It took some negotiating but we got the house 10K under asking, 10K less than a house that just sold on a less desirable section of the same street without a garage. We were all looking at the same information and statistics but I was able to present our position in a way that swayed the minds of the seller and listing agent.
If I was worried about paying my realtor desk fees, or being late for my "real" job if negotiations took too long I wouldn't have been capable of bending the will of the sellers. If I was doing this part time I would not have had the confidence, intel and skill necessary to demonstrate I'm an authority in the industry, that my research is valid, that my position on value is correct.
My clients were willing to pay more but they trusted me to shave the price just enough to get the best deal possible while not blowing the negotiation.
When choosing a realtor look at the big picture, focus on the big number, the number with 6 to 7 zero's behind it. A competent realtor will more than makeup the full commissions simply through negotiations, research, and design alterations to make prior to listing your home will dramatically improve value.
Money is just dirty paper until you wield it in a way that changes your life. Don't march into battle with a cheap spear or shield. When your ready to make a move call me I've got you covered.
Jimmy Vlachos
Royal LePage Signature
416-953-0781
Murray Anderson, CPO
Manager, Client Service at Paragon Security
To put it as simply as possible; Jimmy is the "YODA" of realestate. Jimmy has helped my wife and I with the purchase of our first home, the sale of that home and now the purchase of our new home. To say I recommend Jimmy, is an understatement!
May 8, 2015
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